KSS has been trading within the $21 - $15 range since early April. It unsuccessfully attempted to break the $21 resistance level twice this week, and is now headed for the lower resistance level of $15. Based on past trading ranges, we should expect to see it hit this tomorrow for a 20% loss.
Additional Thoughts:
This will be further strengthened by $AMZN's earnings announcement today. Amazon is even seeing difficulty in this market and they have an online strategy locked down. KSS doesn’t stand a chance until we reopen. Most high population states with, also tend to have higher income levels, are extending lockdowns.
Additional Thoughts:
This will be further strengthened by $AMZN's earnings announcement today. Amazon is even seeing difficulty in this market and they have an online strategy locked down. KSS doesn’t stand a chance until we reopen. Most high population states with, also tend to have higher income levels, are extending lockdowns.
Comment:
If we break the $15 resistance level I expect this to fall and test the previous 52 week low of $10.90. Depending on momentum and news, it's possible we may break through this and establish a new low in the $5-6 range.